HP Plans To Cut Around 8000 Jobs In Europe ….

[Anonymous]

HP Plans To Cut Around 8000 Jobs In Europe By The End Of 2014

Computer and printer maker Hewlett-Packard Co.plans to cut around 8000 jobs in Europe by the end of 2014, the German magazine Wirtschafts Woche reported, citing an unnamed worker representative. The company may cut up to 1,000 jobs in Germany.

The company employs some 10,400 employees in Germany. In Germany, every tenth position could be eliminated, the magazine reported."Up to 1,000 jobs are in acute danger," the magazine reported citing HP employee representatives of the business week.

In May, HP had said that it expects to eliminate about 27,000 employees, or 8% of its workforce as of October 31, 2011, by the end of fiscal year 2014 as part of a restructuring that is expected to generate annualized savings of $3.0 billion to $3.5 billion, majority of which would be reinvested back into the company.

http://in.reuters.com/article/2012/06/23/us-hp-germany-jobs-idINBRE85M0A120120623
HP may cut up to 1,000 jobs in Germany: magazine
Hewlett Packard, the world’s largest personal computer maker, may cut as many as 1,000 jobs in Germany as part of planned European-wide redundancies, WirtschaftsWoche reported, citing an unnamed staff representative.

HP is planning to cut about 8,000 positions in Europe by the end of 2014, the German magazine said, citing unnamed officials close to the company."As many as 1,000 jobs (in Germany) are acutely endangered," WirtschaftsWoche quoted the labor representative as saying.

HP, which employs more than 300,000 workers globally, said in May the layoff of 27,000 workers, or 8 percent of its workforce, would be made mainly through early retirement and generate annual savings of $3.0-$3.5 billion as it exits its 2013/14 year.

HP, which posted a second-quarter profit above market estimates, aims to use cost savings from planned job cuts to drive organic growth.HP in Germany was not available to comment.

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June 26, 2012 at 11:06 AM